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Glossary Terms
Compass - The Only Sales Glossary You Need
Sales development is an umbrella term that describes various sales functions by combining processes, people, and technology. Sales development mainly highlights the initial stages of the sales process.
Sales development is a process of identifying, researching, and nurturing potential prospects or leads to generate qualified sales opportunities. Sales development aims to streamline qualified leads and turn them into opportunities for the sales team to pursue.
The sales development owns different elements of the selling process, including lead generation, prospecting potential customers, closing sales, and customer success.
The sales development process involves a series of steps that sales development representatives follow to identify and qualify leads, engage with them and generate sales. The general process includes:
A sales development plan outlines the goals, strategies, and tactics for the sales development team to generate qualified leads and contribute to the overall sales objectives of an organization. It provides a structured approach to identifying and nurturing leads to drive revenue growth. Key components of the typical sales development plans include goals, target audience, lead generation strategy, training and development, and performance tracking.
Here are some effective sales development techniques that vary depending on the industry and target audience are as follows:
Sales development focuses on generating and qualifying leads to create opportunities for the sales team. The main goal of a sales development representative is to determine potential customers, initiate contact, and assess their fit and interest in the company's product and services.
On the other hand, business development comes with broader scope and activities with objectives to reach the company at a higher level and create strategic relations and higher opportunities, which focus on recognizing and pursuing business opportunities, strategic alliances, mergers, and acquisitions.
Sales development key performance indicators are as follows:
A sales development representative is a sales representative responsible for prospecting, lead generation, and qualifying potential customers. The role of an SDR is to identify and create opportunities for the sales team to pursue and ultimately close deals.
SDR plays a vital role in the sales process by initiating contact with potential leads, engaging in initial conversations, and qualifying their interest and fit for the products or services offered by the company.
The primary objectives of a sales development representative are to lead that meets criteria, allowing the sales team to close deals and eliminating the overall length of the cycle.
Here are some sales development best practices to consider:
1. Prospecting powerhouse
2. Mastering the outreach
3. Qualifying leads effectively
4. Sales development skills
5. Building relationships
